The Stock Market Rose With The News Of ‘Tax Reduction’

Tax reductions made on were reflected positively on sector shares traded on the Stock Exchange Istanbul.

The decision of the Council of Ministers to withdraw the Special Consumption Tax (SCT) from the white goods and some small household appliances, including air conditioner, refrigerator, washing machine, water heater and dishwasher, until 30 April, The sector shares traded on the stock exchange rose rapidly from 18 percent to 8 percent. Following the announcement of the tax cuts, the shares of the companies operating in the furniture and white goods sector, which have been rising and completing the first half of the day with an average increase of 3 percent, carried the positive view into the second half of the day.

There are 4 companies operating in the mentioned sectors and listed on the Stock Exchange Istanbul. Among these, Arcelik and Vestel White Goods stand out among the top winners. After the news, Vestel White Goods shares saw 14,20 liras, the peak of about 14 months, and stabilized at the level of 13,85 pounds with an increase of 5.2 percent as of 15:00. Arcelik shares, 23.98 pounds after reaching the highest level of all time at the rate of 3.40 per cent of the prime deals 23.84 lira. Dogtas Kelebek Mobilya, operating in the aforementioned sectors, provided 2.9 percent return in the following minutes while Vestel Electronics, which would benefit from the regulated subsidiaries, increased by 2 percent.